Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.84%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.95%
baseline attrition
Rally response
-3.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $198M | 6.9% | +60.9% | 5.0 yr |
| MSFTMicrosoft Corporation | $137M | 4.8% | -0.6% | 10.5 yr |
| AAPLApple Inc. | $123M | 4.3% | +14.7% | 10.5 yr |
| AMZNAmazon.com, Inc. | $120M | 4.2% | +9.5% | 10.5 yr |
| GOOGAlphabet Inc. | $120M | 4.2% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $93M | 3.3% | -0.4% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $83M | 2.9% | +21.8% | 10.5 yr |
| AVGOBroadcom Inc. | $82M | 2.9% | +86.0% | 8.0 yr |
| LLYEli Lilly and Company | $70M | 2.4% | +12.2% | 5.0 yr |
| TJXThe TJX Companies, Inc. | $64M | 2.2% | +32.7% | 9.3 yr |
| VTRVentas, Inc. | $64M | 2.2% | +21.4% | 6.0 yr |
| GEVGE Vernova Inc. | $61M | 2.1% | +186.8% | 2.0 yr |
| PWRQuanta Services, Inc. | $58M | 2.0% | +116.2% | 4.8 yr |
| AEEAmeren Corporation | $57M | 2.0% | +12.7% | 1.3 yr |
| TMOThermo Fisher Scientific | $57M | 2.0% | -0.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.0%+6.1pp$343M
Internet Content & Information8.5%+1.9pp$243M
Asset Management6.3%-1.3pp$180M
Drug Manufacturers - General6.2%+1.1pp$179M
Software - Infrastructure4.8%-0.5pp$138M
Consumer Electronics4.3%-0.0pp$123M
Specialty Retail4.2%+0.5pp$120M
REIT - Healthcare Facilities3.8%+0.7pp$110M
Banks - Diversified3.4%+0.6pp$97M
Discount Stores3.1%-0.1pp$90M
Country
US96.0%-1.1pp
GB2.7%+1.4pp
NL1.0%+1.0pp
CA0.1%+0.0pp
CH0.1%+0.0pp
IE0.0%-0.0pp
DK0.0%-0.0pp
Unknown0.0%-1.2pp
Top 5: 24.3% · Top 10: 38.0% · Top 25: 63.8%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$38M |
| SLB SLB N.V. | +$34M |
| GS The Goldman Sachs Group, Inc. | +$33M |
| JPM JPMorgan Chase & Co. | +$31M |
| JBL Jabil Inc. | +$30M |
| ASML ASML Holding N.V. | +$28M |
| AMD Advanced Micro Devices, Inc. | +$24M |
| TJX The TJX Companies, Inc. | +$19M |
| TDG TransDigm Group Incorporated | +$17M |
| NVDA NVIDIA Corporation | +$198M |
Top sells this quarter · 15
| ARES Ares Management Corporation | −$34M |
| PWR Quanta Services, Inc. | −$32M |
| EMR Emerson Electric Co. | −$31M |
| WMT Walmart Inc. | −$20M |
| CRM Salesforce, Inc. | −$19M |
| V Visa Inc. | −$19M |
| DIS The Walt Disney Company | −$17M |
| GEV GE Vernova Inc. | −$55M |
| GILD Gilead Sciences, Inc. | −$12M |
| REXR Rexford Industrial Realty, Inc | −$10M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.87B | 657 | +15.45% | +17.59% | -2.14% | +0.05B |
| 2025-12-31 | $2.90B | 665 | +14.34% | +17.72% | -3.38% | -0.16B |
| 2025-09-30 | $2.97B | 566 | +11.90% | +17.52% | -5.61% | +0.08B |
| 2025-06-30 | $2.73B | 525 | +12.70% | +14.94% | -2.25% | +0.21B |
| 2025-03-31 | $2.31B | 520 | +6.71% | +8.30% | -1.59% | +0.03B |
| 2024-12-31 | $2.37B | 544 | +19.55% | +24.89% | -5.33% | -0.05B |
| 2024-09-30 | $2.40B | 640 | +32.65% | +36.04% | -3.39% | +0.02B |
| 2024-06-30 | $2.23B | 603 | +20.91% | +24.49% | -3.58% | +0.05B |
| 2024-03-31 | $2.12B | 599 | +26.17% | +29.62% | -3.45% | -0.00B |
| 2023-12-31 | $1.96B | 598 | +23.60% | +26.18% | -2.57% | -0.03B |
| 2023-09-30 | $1.78B | 505 | +17.56% | +21.57% | -4.01% | +0.01B |
| 2023-06-30 | $1.82B | 536 | +14.20% | +19.42% | -5.22% | -0.04B |
| 2023-03-31 | $1.73B | 543 | -7.61% | -7.82% | +0.21% | +0.03B |
| 2022-12-31 | $1.61B | 228 | -16.62% | -18.17% | +1.56% | +0.01B |
| 2022-09-30 | $1.51B | 215 | -12.92% | -15.51% | +2.59% | -0.04B |
| 2022-06-30 | $1.63B | 616 | -7.26% | -10.62% | +3.36% | -0.02B |